| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 2198 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to restore the taxable REIT |
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| 6 | 6 | | subsidiary asset test. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | MARCH18, 2025 |
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| 9 | 9 | | Mr. K |
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| 10 | 10 | | ELLYof Pennsylvania (for himself, Mr. SCHNEIDER, Mr. FEENSTRA, |
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| 11 | 11 | | Mr. P |
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| 12 | 12 | | ANETTA, Mr. LAHOOD, Ms. MOOREof Wisconsin, Mr. MOOREof |
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| 13 | 13 | | Utah, Mr. D |
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| 14 | 14 | | AVISof Illinois, Ms. TENNEY, Ms. DELBENE, Mr. |
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| 15 | 15 | | F |
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| 16 | 16 | | ITZPATRICK, Mr. SUOZZI, Mr. BUCHANAN, Mr. MURPHY, Mr. SMITHof |
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| 17 | 17 | | Nebraska, and Mr. E |
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| 18 | 18 | | STES) introduced the following bill; which was re- |
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| 19 | 19 | | ferred to the Committee on Ways and Means |
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| 20 | 20 | | A BILL |
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| 21 | 21 | | To amend the Internal Revenue Code of 1986 to restore |
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| 22 | 22 | | the taxable REIT subsidiary asset test. |
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| 23 | 23 | | Be it enacted by the Senate and House of Representa-1 |
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| 24 | 24 | | tives of the United States of America in Congress assembled, 2 |
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| 25 | 25 | | SECTION 1. RESTORATION OF TAXABLE REIT SUBSIDIARY 3 |
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| 26 | 26 | | ASSET TEST. 4 |
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| 27 | 27 | | (a) I |
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| 28 | 28 | | NGENERAL.—Section 856(c)(4)(B)(ii) of the In-5 |
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| 29 | 29 | | ternal Revenue Code of 1986 is amended by striking ‘‘20 6 |
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| 30 | 30 | | percent’’ and inserting ‘‘25 percent’’. 7 |
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| 31 | 31 | | VerDate Sep 11 2014 21:43 Mar 28, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2198.IH H2198 |
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| 32 | 32 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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| 33 | 33 | | •HR 2198 IH |
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| 34 | 34 | | (b) EFFECTIVEDATE.—The amendment made by 1 |
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| 35 | 35 | | this section shall apply to taxable years beginning after 2 |
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| 36 | 36 | | December 31, 2025. 3 |
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| 37 | 37 | | Æ |
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| 38 | 38 | | VerDate Sep 11 2014 21:43 Mar 28, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2198.IH H2198 |
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| 39 | 39 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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